Intelligent Living Application Group Inc.

NasdaqCM:ILAG Stock Report

Market Cap: US$7.7m

Intelligent Living Application Group Management

Management criteria checks 3/4

Intelligent Living Application Group's CEO is Yu Bong Lau, appointed in Jun 2020, has a tenure of 6.92 years. directly owns 11.27% of the company’s shares, worth $872.82K. The average tenure of the management team and the board of directors is 6 years and 6 years respectively.

Key information

Yu Bong Lau

Chief executive officer

n/a

Total compensation

CEO salary percentagen/a
CEO tenure6yrs
CEO ownership11.3%
Management average tenure6yrs
Board average tenure6yrs

Recent management updates

Recent updates

Analysis Article • Jun 08

Risks To Shareholder Returns Are Elevated At These Prices For Intelligent Living Application Group Inc. (NASDAQ:ILAG)

When close to half the companies in the Building industry in the United States have price-to-sales ratios (or "P/S...
Seeking Alpha • Aug 11

Intelligent Living Application Stock: What To Know About This New IPO

ILAG sells locksets and is only in the process of developing smart locksets now. Their revenue growth has been affected by supply chain issues, end-market issues and also regulation in China. Delisting risks are remote but could evolve into an issue too. There's no evident special appeal at this early stage, and while inflection will come, we'd not play this stock. Intelligent Living Application Group (ILAG) is a $65 million market cap business that sells locksets under the Kambo and Bamberg brand. The company is a holding company in the Cayman's that owns subsidiaries based in Hong Kong and China. They are subject to numerous risks, including demand and supply side risks, but also regulatory risk in China and risks related to delisting. This IPO was for the purpose of funding development of software for their smart-lock products, which are soon to come out. Ultimately, they are a small player among plenty of competitors with more developed products and better financial positions. As cash becomes a more valuable resource, and as problems that are tougher for a smaller player to deal with persist, its competitors are more attractive than they are for people interested in the lockset market. Still, it's good to know what's out there, so here's a breakdown of ILAG. When did ILAG go public? ILAG went public through IPO on July 13, 2022 on the Nasdaq Capital Market with an initial valuation of $4 per share equaling a $72 million market cap. The purpose of the IPO was to move forward with R&D on smart locksets that had to be put on pause over the last couple of years such that work on the software was not completed. Most of our research and development on smart locks have been done internally by our technician and engineers, except that Hing Fat hired outside services for approximately $25,000 in 2017. Because of tariff war and outbreak of COVID-19, we haven't made further progress on the software for our smart locks to save more working capital for our core operation. Prospectus ILAG - 'Our Business Section' The business isn't listed on any other market, which constitutes one of the first potential issues. Many companies that are substantially Chinese have listings in Hong Kong or Shenzhen, and this mitigates the impact of the HFCAA regulation that came into effect under President Trump as part of the set of moves designed to crack down on Chinese companies in the US market. Currently, ILAG does not have a problem in the face of this regulation, because the Auditors it retains are in the US. However, if for any reason they would be assessed as unable to fully complete their duties by the regulatory authority the PCAOB, they could run afoul of the HFCAA which would lead to the delisting concerns that are putting a lot of pressure on other companies like Alibaba (BABA). As far as we understand it, ILAG is so far in the clear as it works with a NYC headquartered auditor (called Wei, Wei & Co., LLP), but various decisions by China or the US could change whether or not that is enough. If they were to be identified as a potential problem (a.k.a a Commission-Identified Issuer), in several years they could face delisting unless they were able to comply, which would depend not only on them but also agreements between Beijing and Washington over auditor access and accountability. A resolution there is not assured. Because they don't have a listing elsewhere, this would affect their liquidity a lot and create a lot of price volatility and forced selling. This is something that investors in Chinese companies need to be aware of, and it'll be detailed in 10-K or prospectus risk sections. ILAG Markets What are ILAG's markets? Geographically, almost all the sales are in the US market and the model is to sell wholesale. They'll likely continue to do this and do so in the APAC market, where they are hoping to expand their markets. However, they have acknowledged substantial price competition in APAC markets, which limits marginality in this market, while in the US it is quality-based competition and there is more scope for pricing and building significant contribution. End-markets are property developers, leisure and hospitality markets (especially with the smart lockset foray), but also residential markets. There is a reopening element that is unwinding some of those markets that were hamstrung by COVID-19 like leisure and hospitality. But new business development in APAC for these markets will be somewhat limited as China is still in lockdowns, perhaps a signal for what's to come for the rest of us given they were ground-zero for the pandemic. While reopening is restoring markets in the US, other markets may be in more trouble. ILAG customers may dial back purchases if property markets and development rates suffer. Developers are already struggling in terms of volume with the supply chain shortages, but it could become a demand problem as well since interest rates are rising. Office real estate might be going into secular decline, so those markets are a bit shaky too. The following are some of ILAG's competitors in their markets, excluding companies like Dormakaba, AB ABLOY and others. Competitors (ILAG Prospectus) Most of these companies also operate in other businesses, but some like Allegion plc (ALLE) are closer to ILAG which is a lockset pureplay. Allegion is in the market of company security and building security, and it deals with a lot of door features including locksets and ID systems. Its mechanical products segment is about 80% of its business and meaningfully overlaps with ILAG's markets. Allegion is ahead in terms of software and technology, where ILAG has only spent some $20k on contracting R&D in addition to in-house and has had to put those efforts on hold over the last couple of years to preserve working capital and deal with business troubles, which include more than just some end-market pressures related to COVID-19 and current China lockdowns. Allegion is not highly levered and has a lot of debt capacity with a cash-generative business model, while ILAG has had to resort to equity markets to finance their R&D. Moreover, they are less exposed to the power control issues that are hitting some of China's manufacturers like ILAG, where power consumption from the factory floor is limited by government mandate as a measure to save power now that energy has become scarce. Also, with China's continuing COVID-19 problem associated with the continuation of strict controls, manufacturing becomes further disrupted from time to time. All of this limits ILAG's ability to scale and pose a threat to well-capitalised incumbents like Allegion. Financials The financials reflect the troubles of a company that is dealing with tougher end-markets and is selling a product that is already established in the market. They are achieving growth, but the new forays like digital locks and the APAC market, in general, will unlikely supercharge growth that much further, especially with the end-market demand environment being ambiguous.

CEO Compensation Analysis

How has Yu Bong Lau's remuneration changed compared to Intelligent Living Application Group's earnings?
DateTotal CompensationSalaryCompany Earnings
Dec 31 2025n/an/a

-US$19m

Sep 30 2025n/an/a

-US$13m

Jun 30 2025n/an/a

-US$7m

Mar 31 2025n/an/a

-US$5m

Dec 31 2024n/an/a

-US$4m

Sep 30 2024n/an/a

-US$3m

Jun 30 2024n/an/a

-US$3m

Mar 31 2024n/an/a

-US$3m

Dec 31 2023n/an/a

-US$4m

Sep 30 2023n/an/a

-US$4m

Jun 30 2023n/an/a

-US$4m

Mar 31 2023n/an/a

-US$3m

Dec 31 2022US$205kUS$205k

-US$2m

Sep 30 2022n/an/a

-US$945k

Jun 30 2022n/an/a

-US$234k

Mar 31 2022n/an/a

-US$810k

Dec 31 2021US$205kUS$205k

-US$1m

Sep 30 2021n/an/a

-US$2m

Jun 30 2021n/an/a

-US$2m

Mar 31 2021n/an/a

-US$1m

Dec 31 2020US$167kUS$167k

-US$1m

Sep 30 2020n/an/a

-US$1m

Jun 30 2020n/an/a

-US$1m

Mar 31 2020n/an/a

-US$1m

Dec 31 2019US$95kUS$95k

-US$1m

Compensation vs Market: Insufficient data to establish whether Yu Bong's total compensation is reasonable compared to companies of similar size in the US market.

Compensation vs Earnings: Yu Bong's compensation has been consistent with company performance over the past year.

CEO

Yu Bong Lau (47 yo)

6yrs
Tenure
US$204,526
Compensation

Mr. Yu Bong Lau serves as Chief Executive Officer and Chairman of the Board at Intelligent Living Application Group Inc. since June 1, 2020 and has been its Director since July 17, 2019. Mr. Lau joined Int...

Leadership Team

NamePositionTenureCompensationOwnership
Yu Bong Lau
CEO & Chairman of the Board6yrsUS$204.53k11.27%
$ 872.8k
Yu Bun Lau
COO & Director6yrsUS$192.50k13.19%
$ 1.0m
Po Wang Hui
CTO & Director6yrsUS$192.50k13.19%
$ 1.0m
6.0yrs
Average Tenure
47yo
Average Age

Experienced Management: ILAG's management team is seasoned and experienced (6 years average tenure).

Board Members

NamePositionTenureCompensationOwnership
Yu Bong Lau
CEO & Chairman of the Board6.9yrsUS$204.53k11.27%
$ 872.8k
Yu Bun Lau
COO & Director2.4yrsUS$192.50k13.19%
$ 1.0m
Po Wang Hui
CTO & Director6yrsUS$192.50k13.19%
$ 1.0m
Ting Mei Ho
Independent Director6yrsUS$24.00k0.19%
$ 14.9k
Wan Yee Chui
Independent Director6yrsUS$36.00k0.19%
$ 14.9k
Wing Hang Yeung
Independent Director2.4yrsno data0.19%
$ 14.9k
Wang Ho Tin
Independent Director1.4yrsno datano data
6.0yrs
Average Tenure
46yo
Average Age

Experienced Board: ILAG's board of directors are considered experienced (6 years average tenure).

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/10 22:42
End of Day Share Price 2026/06/10 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

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Industry and Sector Metrics

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Analyst Sources

Intelligent Living Application Group Inc. is covered by 0 analysts. 0 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.